BILL NUMBER: S5940
SPONSOR: WALCZYK
 
TITLE OF BILL:
CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment
to section 2 of article 7 of the constitution, in relation to capping
the state budget at fifteen percent of total state gross domestic prod-
uct
 
PURPOSE OR GENERAL IDEA OF BILL:
This constitutional amendment would cap the statewide budget at no more
than fifteen percent of the state's total gross domestic product.
 
SUMMARY OF PROVISIONS:
Section 1: Amends Section 2, Article 7 of the New York State Constitu-
tion.
 
JUSTIFICATION:
Between 2019 and 2023, the state budget has increased over 30%. This
path is not sustainable. New York already leads the United States in
outmigration, which has crippled numerous local economies. Furthermore,
high taxes have created a mass exodus of jobs from New York. Out of
control spending does not aid this crisis; it deepens it. Therefore,
this body must act to constrain government spending. Recent budgets
have shown a lack of fiscal responsibility with the tax dollars it
collects. This constitutional amendment is a small step to ensuring the
fiscal well-being of the state.
 
PRIOR LEGISLATIVE HISTORY:
This is a new bill.
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to all contracts
awarded on and after such date.